Opinions
Josh Brown, CEO, Ritholtz Wealth Management
iShares Oil & Gas Exploration & Production ETF
IEO-N
WEAK BUY
Oct 25, 2024
$92.280
Stock price when the opinion was issued
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Energy has been the worst sector, but now it's the cheapest at 10x price to free cash flow and 12x PE. The median return in S&P energy is -3% vs. 30% for all S&P. 54% of IEO's names are negative, but he predicts some will be discovered this quarter. Problem is WTI is up 1% this year at $71. When WTI moves up, so will these stocks.